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SEC Approves NASD, New York Stock Exchange Consolidation

The Securities and Exchange Commission yesterday gave final regulatory approval related to the consolidation of the member firm regulatory functions of the National Association of Securities Dealers, Inc. and NYSE Regulation, Inc., a wholly-owned subsidiary of New York Stock Exchange, LLC.

By Michelle A. Samaad | Updated on July 27, 2007

WASHINGTON — The Securities and Exchange Commission yesterday gave final regulatory approval related to the consolidation of the member firm regulatory functions of the National Association of Securities Dealers, Inc. and NYSE Regulation, Inc., a wholly-owned subsidiary of New York Stock Exchange, LLC.

The consolidated organization will be known as the Financial Industry Regulatory Authority, or FINRA. The commission approved rule changes that allow for the consolidation of member firm regulation into a single, consolidated self-regulatory organization.

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